Vetr upgraded shares of Lockheed Martin (NYSE:LMT) from a buy rating to a strong-buy rating in a research report released on Tuesday morning. The brokerage currently has $348.52 price objective on the aerospace company’s stock.
Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price objective on shares of Lockheed Martin from $320.00 to $340.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Buckingham Research upped their price objective on shares of Lockheed Martin from $316.00 to $348.00 and gave the company a buy rating in a research note on Thursday, October 5th. BidaskClub raised shares of Lockheed Martin from a hold rating to a buy rating in a research note on Saturday, August 12th. Deutsche Bank reissued a buy rating and set a $340.00 price objective (up previously from $305.00) on shares of Lockheed Martin in a research note on Monday, October 2nd. Finally, Bank of America set a $360.00 price objective on shares of Lockheed Martin and gave the company a buy rating in a research note on Friday, October 27th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Lockheed Martin currently has an average rating of Buy and an average price target of $321.90.
Shares of Lockheed Martin (NYSE LMT) traded up $2.45 on Tuesday, hitting $314.42. 972,300 shares of the company traded hands, compared to its average volume of 1,033,553. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56. The stock has a market capitalization of $89,452.48, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. Lockheed Martin has a fifty-two week low of $245.50 and a fifty-two week high of $322.19.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.02). The firm had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $12.83 billion. Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.61 EPS. equities research analysts expect that Lockheed Martin will post 13.12 earnings per share for the current fiscal year.
Lockheed Martin announced that its board has initiated a stock repurchase program on Thursday, September 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be given a dividend of $2.00 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $1.82. The ex-dividend date is Saturday, September 30th. This represents a $8.00 annualized dividend and a yield of 2.54%. Lockheed Martin’s dividend payout ratio is 64.36%.
In other Lockheed Martin news, Director Daniel F. Akerson acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $312.02 per share, with a total value of $780,050.00. Following the completion of the transaction, the director now directly owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dale P. Bennett sold 2,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $313.75, for a total transaction of $627,500.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new position in shares of Lockheed Martin Corporation (NYSE:LMT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors own 78.94% of the company’s stock.
About Lockheed Martin
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
To view Vetr’s full report, visit Vetr’s official website.
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